HSBC names John Flint as next CEO

HSBC names John Flint as next CEO

HSBC, CEO Stuart Gulliver, who will retire next year, announced that John Flint is now head of individual banking and asset Management department.

HSBC has appointed John Flint as its next chief executive the bank said on Thursday, sticking with a tradition of promoting company insiders to run the firm.

"I am humbled by the responsibility and enormously excited by the opportunity to lead HSBC as group C.E.O.", Mr. Flint said.

"He has a great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation". HSBC, founded in Hong Kong and Shanghai in 1865, sees its current focus firmly in Asia, although it has been based in Britain since 1992.


Critics of HSBC, as well as regulators, were keen outsiders take up both leadership roles to shake up the culture after a string of huge fines for money laundering and other conduct breaches. The bank had in 2015 set out a plan to ax 50,000 jobs and exit non-core markets, as it also navigated a series of damaging probes into HSBC operations.

HSBC has named a new Chief Executive to replace the departing Stuart Gulliver. Flint joined HSBC in 1989 and spent the first 14 years with the bank working in Asia. Flint will be owner of a pension allowance of £360 million in new office, as well as a net base salary of £$1.2 and £1.7 million in fixed allowance.

Chairman Mark Tucker, who led the search, said: "John has broad and deep banking experience across regions, businesses and functions".

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